U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Colorado
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-13-2007, 08:41 AM
Status: "October is the eighth month" (set 18 days ago)
 
Location: Just south of Denver since 1989
10,676 posts, read 28,486,584 times
Reputation: 6842

Advertisements

Colorado, which topped the list in December, dropped to fourth place. The number of new foreclosure filings in that state dropped 0.23 percent compared to December and was up 29.5 percent compared to January 2006, with one new foreclosure filing for every 377 households. Colorado's foreclosure rate was the highest in the nation for nine of 12 months last year.
Reply With Quote Quick reply to this message

 
Old 02-13-2007, 10:27 AM
 
2,755 posts, read 11,511,378 times
Reputation: 1457
Quote:
Originally Posted by 2bindenver View Post
Colorado, which topped the list in December, dropped to fourth place. The number of new foreclosure filings in that state dropped 0.23 percent compared to December and was up 29.5 percent compared to January 2006, with one new foreclosure filing for every 377 households. Colorado's foreclosure rate was the highest in the nation for nine of 12 months last year.
Interesting news, but the story behind the news is that this is more about other states' foreclosure rates spiking above ours than a real drop in our foreclosure numbers. Still, at least the problem isn't getting worse and I hate seeing Colorado on the top of any negative list.
Reply With Quote Quick reply to this message
 
Old 04-07-2008, 05:35 PM
 
Location: Las Flores, Orange County, CA
26,346 posts, read 80,739,113 times
Reputation: 17410
I've always been under the impression that Colorado defines foreclosures differently than other states (and years ago I remember reading that Colorado had a high foreclosure rate).

Here's an explanation:

Business: WHAT COUNTS: Colorado's method of calculating foreclosures | colorado, counts, foreclosures : Gazette.com
Reply With Quote Quick reply to this message
 
Old 04-08-2008, 11:57 AM
 
Location: Denver, CO
739 posts, read 2,675,391 times
Reputation: 203
I agree Charles... I think the way we report foreclosures differs from other states and have heard this time and time again as well. Thanks for posting the link.
Reply With Quote Quick reply to this message
 
Old 04-08-2008, 04:47 PM
 
Location: Colorado Springs, CO
2,221 posts, read 4,651,296 times
Reputation: 1681
Colorado reports foreclosure filings, rather than sales, which differs from the reporting methodology of some other states. I guess that if Colorado is worried about winning the Foreclosure Olympics, that'd be an important point.

For me, the year-over-year trend, measured consistently within Colorado, is what's worthy of note. It's up. Way up.

And I disagree with the El Paso County assessor in his casual dismissal of 1,682 foreclosure sales as "miniscule." That's one foreclosure for every 154 properties in the county...and an even higher proportion when measured just against the noncommercial nonfarm residential sector.

If it weren't a problem, we wouldn't have seen the realtor roundtable even addressing it in this series of articles. It certainly is a problem if your comps are being deflated by a foreclosure being marketed right around the corner for 15% less than your asking price.
Reply With Quote Quick reply to this message
 
Old 04-08-2008, 05:35 PM
 
Location: Colorado Springs, CO
2,221 posts, read 4,651,296 times
Reputation: 1681
Default Colorado trends UP in foreclosures

And, by the way, the title of this thread, "Coloadro [sic] trends downward in foreclosures" (initiated by a realtor), is grossly misleading to begin with.

Colorado foreclosures, by any measure, are up sharply. Colorado may have lost its lead in the great race to the bottom...but make no mistake, the trend is still a bad one. Trying to represent this as some kind of happy story is just more NAR-style whitewash bullhockey.
Reply With Quote Quick reply to this message
 
Old 04-08-2008, 05:46 PM
 
Location: Denver, CO
739 posts, read 2,675,391 times
Reputation: 203
bob, you don't even live in Denver so how do you know so much about the ENTIRE metro market? Sorry, I'm just really, really tired of the gloom and doom when the Denver market as a whole is not really that bad.
Reply With Quote Quick reply to this message
 
Old 04-08-2008, 05:46 PM
 
Location: CO
2,532 posts, read 5,816,223 times
Reputation: 3295
Quote:
Originally Posted by Bob from down south View Post
And, by the way, the title of this thread, "Coloadro [sic] trends downward in foreclosures" (initiated by a realtor), is grossly misleading to begin with.

Colorado foreclosures, by any measure, are up sharply. Colorado may have lost its lead in the great race to the bottom...but make no mistake, the trend is still a bad one. Trying to represent this as some kind of happy story is just more NAR-style whitewash bullhockey.
In any case the opening post is from February, 2007, more than a year ago. It wasn't a current commentary. Care to analyze it from hindsight?
Reply With Quote Quick reply to this message
 
Old 04-09-2008, 08:16 AM
Status: "October is the eighth month" (set 18 days ago)
 
Location: Just south of Denver since 1989
10,676 posts, read 28,486,584 times
Reputation: 6842
Default from http://www.mortgagenewswatch.com/newsviewer.php?ppa=%3Aqsvv%5F%5CjlmihprUSljt9K%22b fen%5F%21

WHAT COUNTS: Colorado's method of calculating foreclosures

--------------------------------------------------------------------------------
Apr 7, 2008 - McClatchy Tribune Business News

--------------------------------------------------------------------------------

Apr. 7--WHAT COUNTS IN COLORADO


Colorado's method of compiling foreclosures is somewhat different from those in other parts of the nation....Once a foreclosure filing takes place, homeowners have several weeks to catch up on their missed mortgage payments or work out a payment plan with lenders.

If a homeowner fails to "cure" the default on the loan, as the process is called, or if a lender doesn't withdraw the foreclosure action, then the house can be sold.

In 2007, 1,682 properties -- mostly residential -- were sold in El Paso County months after the original foreclosure action was filed. El Paso County Assessor Mark Lowderman, "Sixteen-hundred out of 260,000," he says, "That's minuscule."
Reply With Quote Quick reply to this message
 
Old 04-09-2008, 10:25 AM
 
166 posts, read 380,955 times
Reputation: 64
Quote:
Originally Posted by Bob from down south View Post
Colorado foreclosures, by any measure, are up sharply.
i might believe the "up sharply" part if i could see your data source, not biased news clippings. the point of the article is that colorado's funky foreclosure reporting law only discloses initial filings, not sales (real foreclosures in other states). any way you cut it, foreclosure work outs still outnumber foreclosure sales.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Colorado
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top